Word: money
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Dates: during 1920-1929
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What had happened evidently was that in Denver some person or persons unknown, having knowledge of the confidential code through which bankers transfer money, had written six coded wires, had fraudulently added the six Denver signatures. Banks customarily act upon these coded telegrams without checking back on them. Given a knowledge of the code and a willingness to misuse it, there was no great difficulty in working the $500,000 fraud. Sole precaution on the part of the defrauder was that the money should be collected before the trickery was discovered...
...while detectives were still searching for the missing banker, the half-million fraud produced another surprise. For what had Banker Waggoner done with his $495,000 drafts? Cashed them and gone to South America? Not at all. He had used the money to pay to other banks money which his Bank of Telluride owed them. He had robbed Peter (the six Manhattan banks) to pay Paul (three banks which were creditors of his bank).* Thus Waggoner had apparently not engineered his scheme for any personal profit, but had sacrificed himself for his bank, which for a long time had been...
...court and turn the problem over to the law?or rather the lawyers? of the land. Certainly the defrauded banks were sadly tricked. On the other hand the innocently profiting banks have legally collected a legal debt and, considering the Bank of Telluride's condition, they perhaps received their money in the only manner that it could ever have been obtained. Should they consider it their duty to their depositors to keep this money, many a fine legal mind will soon be struggling with the problem of whether a certified check is credit or money?whether it is a promise...
...Mawr, Pa., were refunded $2,586.66 paid as income tax, although a lower court had ruled that the school was not a corporation entitled to "personal service classification." The higher court ruled that because of the "close personal contact between the teacher and the taught," the school's "money income must be ascribed to the activities of the Misses Howland and Brownell, its sole stockholders, for without these two women's daily, personal work, the school would simply shrivel...
...demonstrate the expediency of her mode of travel, to intensify public interest and to get financial support for the construction of the ideal Zeppelin which we know how to build." The trip served its purpose. It led last week to banker negotiations to provide Dr. Eckener with money for the construction of four more Zeppelins...